Posted on 08/01/2025 12:18:31 PM PDT by Miami Rebel
Hours after data showed cracks in the U.S. economy, President Trump implied that Erika McEntarfer manipulated the data for political reasons.
Hours after disappointing jobs data reflected cracks in the U.S. economy, President Trump said Friday that he planned to fire the commissioner of the Bureau of Labor Statistics, Erika McEntarfer, and implied on social media that she had manipulated the monthly data for political reasons.
According to the data released early Friday, U.S. employers added 73,000 jobs in July, less than economists expected, and the unemployment rate rose slightly. The report on also significantly revised down the data on hiring from May and June by a combined 258,000 jobs, suggesting the labor market was under greater strain than initially believed. That moved the bond market in particular, with U.S. Treasury yields falling sharply as investors anticipated that the Federal Reserve could be more willing to cut interest rates to bolster a flagging economy.
Financial markets were also rattled as investors grappled with the implications: Stocks fell and the dollar dropped against other major currencies.
(Excerpt) Read more at nytimes.com ...
How were the tables turned?
The NYT always approaches anything to do with Trump in an adversarial way.
What’s YOUR interpretation?
Did the BLS botch the numbers? Because if it purposely reported false, lower jobs numbers, it actually strengthened the administration’s argument for lower rates.
LOL yes
Given today’s revisions, though, it seems likely Q2 will be revised lower. I’m not saying the Fed shouldn’t ease, but until today I think the case was not really clear. Now seeing the impact of the tariff policies on growth they probably will cut a bit at the next meeting.
Recall that every time in Dem administrations that there are downward data revisions everyone on FR squeals “oooh! they hid the weakness in the revisions.”
The article is misleading. Trump is not firing the BLS commissioner because of a weak job report. That suggests that he is pressuring BLS to show high job numbers. He is firing the commissioner because of incompetence and/or political manipulation of the numbers. We need a non-partisan, smart and accurate BLS commissioner.
Yup.
You can get all the data - both raw inputs and normalized outputs - easily enough (https://www.bls.gov/developers/home.htm).
I can get monthly data back to 1979.
Pay me enough to make it worth my time and I suppose I could also do some Bloomberg Terminal checks (or Thompson or Lexis) comparisons to prove that yeah:
1) Nobody is cooking any books and
2) There actually isn’t any kind of partisan pattern to over/under preliminaries vs revised numbers
But... my time is valuable. So, you know... put say, $20k in escrow account and sure... I’ll build you a Kibana dashboard or something.
Seriously…. When a gullible public fake news stat like this is in control of a Biden holdover you MUST remove her. The “jobs” data will be all over the place for a period of time, as Trump continues to clean house and you need someone trustworthy to back it up.
Either way, she should be ass-canned immediately.
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